Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Applied Digital Corp. incurred convertible notes of $40 million with YA II PN, LTD. at zero percent (0%) maturing April 8, 2025.
- Instrument
- convertible notes
- Principal
- $40 million
- Counterparty
- YA II PN, LTD.
- Rate
- zero percent (0%)
- Maturity
- April 8, 2025
- Event
- incurrence
Exact text from the filing
On March 27, 2024, Applied Digital Corporation, a Nevada corporation (the “Company”) entered into a Prepaid Advance Agreement (the “PPA”) with YA II PN, LTD., a Cayman Islands exempt limited partnership (the “Investor”). In accordance with the terms of the PPA, the Investor has agreed to advance up to $50 million to the Company pursuant to two convertible unsecured promissory notes (the “Promissory Notes”). The Company issued the first Promissory Note on March 27, 2024, in the principal amount of $40 million
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Applied Digital Corp. entered into PPA with YA II PN, LTD. valued at $50 million (effective 2024-03-27).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- YA II PN, LTD.
- Value
- $50 million
- Effective
- 2024-03-27
Exact text from the filing
On March 27, 2024, Applied Digital Corporation, a Nevada corporation (the “Company”) entered into a Prepaid Advance Agreement (the “PPA”) with YA II PN, LTD., a Cayman Islands exempt limited partnership (the “Investor”). In accordance with the terms of the PPA, the Investor has agreed to advance up to $50 million to the Company
View on SEC.gov